As Head of Product at The Floow, I regularly get the opportunity to talk to insurers of all sizes, from across multiple territories, about what they are looking for from an app-based telematics solution and their thoughts on the future of insurance.
One of the words I frequently hear is ‘flexibility’, relating to a number of areas including: ensuring insurers have the opportunity to control the design and user experience of their app/solution, and the scalability of the solution including how it can grow and change to fit the needs of that particular insurance organisation at different points in their life.
Over the last three years, as we’ve increasingly become a more product-focused business, we have worked hard to ensure that all of our products and solutions have flexibility at their core. Our FloowKit product in particular, is a very flexible option which is well suited to insurers who are looking to utilise telematics’ insights within a new or existing mobile app to create an engaging app-based insurance product.
FloowKit is a mobile SDK solution which easily integrates into an app and harnesses the smartphone as a powerful mobility sensor to capture journey data. This data is then scored across a number of key areas, including speed, mobile distraction and smooth driving, using The Floow’s best in class scoring and analytics engine which delivers in-depth insights into driver behaviour, and creates a more rounded picture of a driver’s risk profile to help insurers price their policies more accurately.
As the insurer is fully in control of the design and user experience of their app proposition, they can choose whether to present these driver scores within the app to the user. Presenting this information, helps drivers to understand their driving behaviour and provides insurers with the opportunity to help drivers with lower scores make positive changes and become safer behind the wheel.
We also provide insurers with the opportunity to utilise our smartphone-based crash detection service, on top of our journey capture and scoring capabilities, to gain visibility of high severity crashes which occur during driver journeys. This allows insurers to provide added value to their customers when it matters most, by being able to quickly and effectively handle claims including the deployment of services such as roadside assistance and early FNOL surveys.
In a constantly changing world, flexibility in what you can offer to your policyholders as part of their insurance experience is key as consumers continue to look for the best solutions for their needs. FloowKit helps insurers utilise telematics to provide engaging, personalised and rewarding experiences which meet the changing needs of consumers, and create a robust insurance product which will meet their requirements now, and continue to evolve with them in the future.
To find out more about our FloowKit solution, get in touch with us at info@thefloow.com
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